The large-scale utilization of steel in the modern society highlights the importance of the lamination process, and poses new demands for advanced technologies in the electromechanical equipments as well as for the control systems. Several process parameters, such as strip thickness, friction, tension, temperature, and rolling speed have a strong influence in the quality of the final product, and strategic importance in the control system. This paper introduces a method to obtain the torque and rolling mechanical power estimates in real time, without utilization of lamination process models. In contrast to existing techniques, in this work these estimates are derived from stator electrical variables, readily available in AC drives. This work also discusses the utilization of the torque and rolling mechanical power estimates to determine input and output strip thickness, by means of a neural network. Simulation results are presented and compared to real industrial data to demonstrate the validity of the proposed technique.